Apoorva Shah, senior fund manager at DSP BlackRock Mutual Fund will no longer be looking at the domestic funds of the asset management company. He will now be moving on to manage the offshore funds of the AMC. According to news reports, fund managers Harrish Zaveri, Rohit Singhania and Vinit Sambre will take over.
Shah was managing DSP Blackrock Top 100 Fund, DSP BlackRock Equity Fund, DSP BlackRock Tax Saver, DSP BlackRock Opportunities Fund and DSP BlackRock Small and Midcap Fund.
While DSP BlackRock Top 100 and DSP BlackRock Equity are ‘Gold’ rated, DSP BlackRock Tax Saver, DSP BlackRock Small and Midcap Fund and DSP BlackRock Opportunities Fund each have a ‘Silver’ rating.
Given this change at the helm, Morningstar’s sernior fund analyst Himanshu Srivastava has put all of the above funds ‘Under Review’.
The Rating Scale
Gold: Best-of-breed fund that distinguishes itself across the five pillars and has garnered the analysts' highest level of conviction.
Silver: Fund with advantages that outweigh the disadvantages across the five pillars and with sufficient level of analyst conviction to warrant a positive rating.
Bronze: Fund with notable advantages across several, but perhaps not all, of the five pillars—strengths that give the analysts a high level of conviction.
Neutral: Fund that isn't likely to deliver standout returns but also isn't likely to significantly underperform, according to the analysts.
Negative: Fund that has at least one flaw likely to significantly hamper future performance and that is considered by analysts an inferior offering to its peers.
